Enact Q4 GAAP EPS $0.98, full year $4.11; record IIF $263B; returns >$300M to shareholders

Enact Holdings, Inc.

2023-FY EPS reported $4.11 revenue$1,153,686,000

Net income $157M ($0.98/sh) in Q4 vs $164M Q3; full year $666M ($4.11/sh). Adjusted operating income $158M ($0.98/sh).
Record primary IIF $263B (+6% YoY). NIW $10B down 27% sequentially and 31% YoY due to smaller mortgage market.
Loss ratio 10% (up from 7% Q3) on higher delinquencies; delinquency rate 2.10% vs 1.97% Q3.
Returned >$300M to shareholders in 2023 via dividends and $88M in share repurchases; $82M remains on buyback.
S&P upgraded EMICO to A- (from BBB+). New 2024 quota share cedes ~21% of expected NIW; executed first Australia reinsurance deal.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Enact Holdings, Inc. reported quarter ended December 31, 2023 results: net income $157 million, EPS $0.98 per diluted share.

Period: quarter ended December 31, 2023
Net income: $157 million
EPS: $0.98 per diluted share
Result: reported results

Exact text from the filing

On February 6, 2024, Enact Holdings, Inc. (the “Company”) issued (1) a press release announcing its financial results for the quarter and year ended December 31, 2023, a copy of which is attached hereto as Exhibit 99.1 and is incorporated herein by reference

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Enact Holdings, Inc. reported year ended December 31, 2023 results: net income $666 million, EPS $4.11 per diluted share.

Period: year ended December 31, 2023
Net income: $666 million
EPS: $4.11 per diluted share
Result: reported results

Exact text from the filing

On February 6, 2024, Enact Holdings, Inc. (the “Company”) issued (1) a press release announcing its financial results for the quarter and year ended December 31, 2023, a copy of which is attached hereto as Exhibit 99.1 and is incorporated herein by reference

View on SEC.gov

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Enact Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001823529-24-000005

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